Power

Nigeria’s power sector consumed N1.7trn in 3 years – El-Rufai

Jan 24, 2020

Governor Nasir El-Rufai of Kaduna state on Thursday said Nigeria’s power sector has gulped a sum of N1.7trillion in the last three years. The governor disclosed this at the Presidential Villa, Abuja, while briefing journalists on the outcome of National Economic Council (NEC) meeting chaired by Vice President Yemi Osinbajo. He said the situation of…

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Nigeria’s Gencos lost N1.2trn in 5 years

Jan 24, 2020

Nigeria’s power generation companies (GenCos) in the past five years lost a whopping N1.2 trillion to poor capacity utilisation and the country’s inability to transport over 21,184.62 megawatts of electricity to end users. With a peak suppressed load of 25,790MW on the grid, while peak generation hovers around 5,375MW (indicating that about 21 per cent…

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NEMSA reads riot act to meter manufacturers over alleged malpractices

Jan 24, 2020

The Nigerian Electricity Management Services Agency (NEMSA), has sounded a note of warning to meter manufacturers, who engage in sharp practices to cheat unsuspecting consumers, noting that the Agency is on top of its game to bring sanity to the industry. Although NEMSA had debunked claims of substandard meters in the country, especially when consumers…

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TCN set to acquire helicopters to detect faults on power lines

Jan 23, 2020

The Transmission Company of Nigeria (TCN) has announced plans to acquire helicopters for fault detection across its transmission line network in the country. TCN’s Managing Director, Mr Usman Mohammed, said this on Wednesday on the sideline of the ongoing three-day International Conference on Energy, Power Systems Operations and Planning, ICEPSOP 2020, in Abuja. The News…

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Africa requires more investment in power sector – Elumelu

Jan 23, 2020

The Chairman, United Bank for Africa(UBA), and Founder, Tony Elumelu Foundation, Tony Elumelu has advocated massive private capital investment in the power sector. Elumelu disclosed this while speaking on a panel at the  UK-Africa Investment Summit 2020, in London. He stressed the need to invest in critical sectors of the economy such as electricity and…

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Discos owe NBET N430bn in 11 months

Jan 23, 2020

Power distribution companies failed to pay a total of N429.87bn to the Nigerian Bulk Electricity Trading Plc for electricity sold to them from January to November last year. The government-owned NBET buys electricity in bulk from generation companies through Power Purchase Agreements and sells through vesting contracts to the Discos, which then supply it to…

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TCN installs 68 transformers as it targets 10,000MW transmission capacity

Jan 23, 2020

Nigeria’s power transmission capacity has increased beyond the 8,100 megawatts recorded in December 2018, as the Transmission Company of Nigeria plans to evacuate 10,000MW of electricity. It was also gathered that the Federal Government-owned transmission firm installed 68 transformers across the country between 2017 and October 2019. The Managing Director of the TCN, Usman Mohammed,…

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Sahara Group urges UK, African investors to commit resources to maximize continent’s energy potentials

Jan 22, 2020

Leading energy conglomerate, Sahara Group, has urged participants at the UK-Africa Investment Summit to explore committing resources towards addressing the energy needs on the continent that is home to about 1.3 billion people. The Summit which holds on January 20, 2020 in London, will be hosted by the Prime Minister, bringing together businesses, governments and…

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N.Assembly to enact laws to facilitate development of national, mini-grids

Jan 22, 2020

The National Assembly (NASS), says it is working towards making laws that will aid the development of the main and mini-grids to boost electricity supply in the country. A grid is a network of wires and cables through which power, such as electricity is distributed. Rep. Magaji Aliyu, the Chairman House Committee on Power, said…

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Four British firms sign deals with Nigeria on gas, power sectors at UK-Africa Summit

Jan 22, 2020

Four British companies Monday signed business deals with Nigeria on the sidelines of the inaugural UK-Africa Investment Summit in London. The deals were among the several others sealed between UK companies and their African partners. In the case of Nigeria, Low Energy Designs won an export contract to install street lighting in Oyo State while…

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